Elevate Uranium has intersected a significant 13-meter thick uranium mineralisation zone in granite at its Marenica Project, revealing a new style of deposit beyond traditional palaeochannels. This discovery could reshape exploration strategies and resource potential in Namibia.
- 13-meter thick near-surface granite-hosted uranium mineralisation intersected
- New mineralisation style expands exploration targets beyond palaeochannels
- Multiple mineralised intervals found, some extending to 58.5 meters depth
- 44 holes drilled totaling 1,701 meters in recent program
- Current 61 million pounds U3O8 resource remains unchanged pending further analysis
A New Chapter in Marenica Exploration
Elevate Uranium Limited (ASX – EL8) has announced a breakthrough at its Marenica Uranium Project in Namibia, intersecting a 13-meter thick zone of uranium mineralisation hosted in granite near the surface. This discovery, made in drill hole MAR2500, marks a departure from the project's historical focus on palaeochannel-hosted uranium deposits and opens a new frontier for exploration.
Traditionally, Marenica's uranium mineralisation has been associated with surficial palaeochannels; ancient riverbeds filled with mineral-rich sediments. However, the recent drilling campaign, which included 44 holes totaling 1,701 meters, has revealed basement-hosted mineralisation within granite formations. This new style of mineralisation not only broadens the geological understanding of the area but also suggests the potential for deeper and more extensive uranium deposits.
Details of the Discovery
Drill hole MAR2500, located near the southeastern margin of a domal geological feature, intersected six mineralised intervals exceeding 100 ppm equivalent uranium oxide (eU3O8), aggregating 24 meters of mineralisation. Notably, the thickest interval was 13 meters at an average grade of 203 ppm eU3O8, including a higher-grade 3.5-meter section at 326 ppm. Mineralisation was detected down to 58.5 meters, more than double the depth of previous holes in the vicinity.
Other nearby drill holes also intersected mineralisation, though most were limited to depths of around 28 meters, indicating that the mineralised zone could extend further underground. The mineralisation occurs within leucocratic granite adjacent to unmineralised marble, suggesting complex geological controls that may influence uranium deposition.
Implications for Future Exploration
Managing Director Murray Hill highlighted the significance of this finding – "This discovery opens a new search space for us, no longer restricting exploration to palaeochannel uranium deposits." The company is currently interpreting the recent drilling results alongside historical data to refine its geological models and plan follow-up drilling programs later in the year.
While the current resource estimate at Marenica stands at approximately 61 million pounds of U3O8, the new granite-hosted mineralisation style could potentially add to this figure once further drilling and assay results are completed. The company also reported mineralisation in the southeastern portion of the tenement within palaeochannels, indicating multiple target types within the project area.
Technical and Regulatory Context
The drilling utilized reverse circulation percussion methods with downhole gamma probes calibrated against chemical assays to estimate uranium grades. Although chemical assays for the recent drill program are pending, historical data and quality control measures lend confidence to the gamma-derived results. The Marenica Project operates under a mineral deposit retention licence renewed in March 2025, ensuring tenure security for ongoing exploration.
Elevate Uranium also confirmed that mineral resource estimates for its other projects, including Koppies, Hirabeb, and Australian tenements, remain unchanged since previous announcements, underscoring that this latest discovery at Marenica is an early-stage but promising development.
Bottom Line?
Elevate Uranium’s new granite-hosted discovery at Marenica could redefine its resource potential, but further drilling and assays will be critical to unlock its full value.
Questions in the middle?
- How extensive is the new granite-hosted uranium mineralisation beyond drill hole MAR2500?
- When will chemical assay results confirm the gamma probe estimates from recent drilling?
- Could this new mineralisation style significantly increase Marenica’s current uranium resource?